The average price of a home in the GTA continues to skyrocket.

The latest numbers from the Toronto Regional Real Estate Board shows the average price of a home sold in the region in October of this year was $1.2-million.

That’s a 20% increase from last October.

The report says there were fewer homes sold this year but at a higher price. It also says there were 33% fewer homes on the market compared to 2020.

Close to 9,800 homes were sold in October and while that was a 7% drop compared to a year ago, sales were still at one of the highest levels ever recorded.